UAE’s Aldar makes Dhs 1.9bn in H1 2015 on new project sales

Aldar Properties, Abu Dhabi’s largest listed developer, said on Tuesday it had generated sales worth Dhs 1.9bn ($517.3m) in the first half of the year across three new developments.

The sales constituted land plots on Nareel Island and its Al Merief developments, as well as unit sales at Meera at Shams Abu Dhabi, it said in a bourse statement.

The company has yet to report its second-quarter profit. SICO Bahrain has forecast that Aldar will make a net profit of around Dhs 514.6m in the second quarter, up marginally from the Dhs 505.8m it made in the corresponding period of 2014.